Social marketing vendor Lithium Technologies raises $53.4 million

By Zak StamborManaging Editor

The company will use the funds to hire sales, marketing and engineering workers.

Social marketing vendor Lithium Technologies today announced it has raised $53.4 million. The company plans to use the funds to bolster what it calls “social customer experience solutions” that include tools such as the Scout Labs listening platform. Such technology combs social media and the web for mentions of brands and products.

Lithium says it plans to expand its sales and marketing teams in new and emerging markets, while also hiring engineers to develop new products. "This successful funding round will help us extend our leadership in the social customer experience market, giving us both the operational flexibility and financial strength to double our company in 2012,” says Rob Tarkoff, Lithium president and CEO.